What does the Autumn Budget mean for the manufacturing industry?
30 November 2022
On 17 November, UK Chancellor Jeremy Hunt announced the Autumn Budget, outlining the Government’s plans to tackle the energy crisis, boost innovation, and ensure business survival. As another year ends, let’s take a look at how this will affect the manufacturing industry.
Sophia Bell, Group Editor
As an early Christmas present to us all, the Government has announced that, from April 2023, energy bills will increase to a whopping £3,000 a year. (If ever there were a time for the Ghosts of Christmas Past, Present and Future to make an appearance, it’s definitely now!)
In all seriousness though, this will drive an unprecedented number of households into fuel poverty. According to Make UK, it also threatens the UK’s economic competitiveness, as we fall behind other countries who enjoy lower costs and greater stability.
Read the full article in DPA's December issue